Kieran O'Donnell (Fine Gael) | Oireachtas source

Professor Lane has said that if the price of houses were to change materially over the year he would go in and effectively change the rules to correct the market. We cannot operate in a vacuum where it is let go for eight months and absolutely nothing is done. The question I am asking is, at what point is there is a material change? Professor Lane is a renowned economist, he understands figures. We have seen a 4.3% increase in the first three months, the highest in over two years. The ordinary person looking in will want to know at what rate of increase will they be reading that the Governor of the Central Bank, Professor Lane, has said we need to change the rules to ensure the price of houses does not go out of control.